Dentons advised a club of banks composed of Československá obchodní banka and UniCredit Bank Czech Republic and Slovakia on providing term loan facilities to Accolade for the purposes of refinancing of a portfolio of existing industrial parks in four locations in the Czech Republic (Hradiště u Chebu, Hořovice, Ostrov u Stříbra and Pavlov) and financing development of two new facilities in the Czech Republic. The refinancing, in an aggregate value of €150 million, is one of the largest financial transactions in the industrial real estate segment in the Czech Republic this year.
Československá obchodní banka and UniCredit Bank Czech Republic and Slovakia are among the largest banks in the Czech Republic with extensive expertise in the commercial real estate financing.
Accolade is an investment company providing first-rate infrastructure for business in Europe owning a network of 39 industrial parks in the Czech Republic, Poland, Germany, Slovakia, and Spain with BREEAM certification that guarantees a sustainable and friendly approach to the environment.
Partner Daniel Hurych led Dentons’ team composed of members of Banking and Finance and Real Estate practices Martin Manduľák, Eva Klímová, Jana Málková Želechovská and David Šutko. The team provided comprehensive advisory to the lenders, including conducting due diligence and drafting and negotiation of financial documentation.
Daniel Hurych commented, “We are delighted to have assisted Československá obchodní banka and UniCredit Bank Czech Republic and Slovakia on this significant refinancing transaction that will help Accolade to assure the financial stability of a part of its portfolio for years to come.”